Browsing by Author "Berument, Hakan"
Now showing items 1-20 of 109
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1680-1747 Ottoman budgets and deficits sustainability in a period of fiscal transition: wars and administrative changes
(American Economic Association, 2006)This paper studies the sustainability of the Ottoman budget for the period from 1680 to 1747, during different sultanates and war eras. Moreover, we investigate whether the relationship between government revenues and ... -
Assessing the effects of a policy rate shock on market interest rates: interest rate pass-through with a FAVAR model–the case of Turkey for the inflation-targeting period
(2018-07-29)The purpose of this paper is to investigate the effectiveness of the central bank’s policy rate on market interest rates in Turkey for the inflation-targeting period. Empirical evidence suggests that (i) all interest ... -
Asymmetric effects of central bank funding on commercial banking sector behaviour
(Taylor & Francis, 2019-02)In this paper, we assess the effects of Central Bank Funding (C.B.F.) on commercial bank lending behaviour by using weekly Turkish data from 7 January 2011 to 5 June 2015. To be specific, using the Nonlinear Autoregressive ... -
Asymmetric effects of monetary policy shocks on economic performance: empirical evidence from Turkey
(Routledge, 2016)This study investigates the asymmetric effects of monetary policy shocks on the macroeconomic variables of exchange rate, output and inflation for an emerging economy ‒ Turkey ‒ by using monthly data between 1990 and 2014. ... -
Central Bank independence and financing government spending
(Elsevier BV, 1998)This paper incorporates the effect of the central bank's independence into the government's optimum financing model. When the implications of the hypotheses are tested for eighteen OECD countries, this paper shows that ... -
Central bank independence, government political orientation and optimum government expenditure financing
(Wiley-Blackwell Publishing Ltd., 2002)This paper extends the government optimum expenditure financing model by incorporating the effects of both the government's political orientation and the central bank's independence. For the panel data of fourteen OECD ... -
The centre and periphery relations in international stock markets
(Routledge, 2006)Encouraged by the findings of the recent studies it is argued that a kind of centre-periphery relation has been emerging between the equity markets of the developed and less developed countries. To test the argument the ... -
A century and three-quarters of bank rate and long-term interest rates in the United Kingdom
(Wiley-Blackwell Publishing Ltd., 2017)Over the years from 1844 to 2013, the United Kingdom had several distinct monetary policy regimes. This paper examines the relationship between the Bank of England policy rate and UK long-term rates in each regime. Our ... -
The choice of monetary policy tool(s) and relative price variability: evidence from Turkey
(A N S I Network, 2009)The aim of this study is to assess any regularity relative price dispersion for the effect of monetary policy tool selection. Central banks use tools such as interbank rate and exchange rate when pursuing their (monetary) ... -
Credit channel and capital flows: a macroprudential policy tool? – evidence from Turkey
(Walter de Gruyter, 2016)Rapid credit growth induced by sudden capital inflows may negatively affect a country's economic performance, with the resulting outflows turning into a financial crisis. The purpose of this study is to determine whether ... -
Day of the week effect on foreign exchange market volatility: evidence from Turkey
(Elsevier Inc., 2007)This paper assesses the day of the week effect of the daily depreciation of the Turkish lira (TL) against the US dollar (USD) and its volatility. The empirical evidence from Turkey presented here suggests that Thursdays ... -
The day of the week effect on stock market volatility
(Springer New York LLC, 2001)This study tests the presence of the day of the week effect on stock market volatility by using the S&P 500 market index during the period of January 1973 and October 1997. The findings show that the day of the week effect ... -
The day of the week effect on stock market volatility and volume: international evidence
(John Wiley & Sons Ltd., 2003)This study investigates the day of the week effect on the volatility of major stock market indexes for the period of 1988 through 2002. Using a conditional variance framework, we find that the day of the week effect is ... -
Denomination composition of trade and trade balance: evidence from Turkey
(Routledge, 2005)The currency denominations of a country's exports and imports are not necessarily the same. If this is the case, then a change in the exchange rate parity among major currencies will affect the trade balance. The empirical ... -
Determinants of interest rates in Turkey
(Taylor & Francis, Ltd, 2001)This paper analyzes the Turkish Treasury interest rate behaviour within the Fisher hypothesis framework for the period from 1988:11 to 1998:6. Consistent with the hypothesis, empirical evidence indicates that the interest ... -
Do capital flows improve macroeconomic performance in emerging markets? The Turkish experience
(Routledge, 2004)This study examines the effects of capital inflows on the macroeconomic performance in an emerging, small open economy-Turkey. Using monthly data from 1992:01 to 2001:06 and a recursive vector autoregression model, we find ... -
Dynamics of inflation and inflation inertia in Turkey
(Statistical Economic and Social Research and Training Centre for Islamic Countries, 2004)This paper investigates the inflation dynamics in Turkey between 1988 and 2000. Using model-free techniques, we first observe that there is strong inertia in Turkish inflation. Next, we look at the correlations between ... -
Economic performance and unemployment: evidence from an emerging economy
(Emerald Publishing Limited, 2006)Purpose - This article seeks to examine whether or not various macroeconomic policy shocks have different effects on overall unemployment and the unemployment by different levels of education in Turkey. These effects are ... -
The effect of foreign income on economic performance of a small-open economy: evidence from Turkey
(Routledge, 2004)The effect of a shock in the foreign economic performance on the domestic economy is an attractive research area. It has consistently been found that this effect is non-negligible. However, the countries examined are mostly ... -
The effect of inflation uncertainty on inflation: stochastic volatility in mean model within a dynamic framework
(Elsevier BV, 2009)This paper investigates the effect of inflation uncertainty innovations on inflation over time by considering the monthly United States data for the time period 1976-2006. In order to investigate the effect of inflation ...
